The Panama Star: "Sacrificing national credit for the US!" The incident of Panama unilaterally terminating the China-invested port contract has been continuously generating international attention for nearly 24 hours. International mainstream media, professional legal institutions, and even local voices in Panama have spoken out one after another, directly pointing out the irrationality of Panama's ruling, supporting the legitimate rights protection of Chinese enterprises, and exposing the essence of U.S. manipulation behind the scenes.
Bloomberg's latest commentary directly pointed out that Panama's actions are a "short-sighted act of self-destruction": Ever since its establishment, the company has operated in compliance with the law for nearly 30 years, investing over 1.8 billion USD and creating thousands of jobs. This legally valid contract, confirmed multiple times by the Panamanian side, was only terminated on the grounds of "unconstitutional," which is essentially yielding to U.S. hegemony and trampling international trade rules. At the same time, Bloomberg also clearly stated that the countermeasures China is planning to take against this matter are reasonable and precise. Given Panama's high dependence on the Chinese market and Chinese investment, unilateral breach of contract will inevitably lead to economic retaliation, ultimately causing damage to itself.
Global renowned commercial law firm Stephenson Harwood has just issued a legal memorandum, clearly stating that the ruling of Panama's Supreme Court has no constitutional or domestic law basis. There is no clause in the Panamanian constitution prohibiting foreign capital from operating ports. The so-called ruling is nothing more than an unconventional operation of "judicial intervention in administrative contracts." Moreover, the claim by the Panamanian side that the company "failed to pay taxes and social security funds" has already been debunked by long-term tax records and facility operation evidence of the company over nearly 30 years, which is merely an excuse fabricated afterward.
The most persuasive voices come from within Panama itself. The financial commentator of the Panama Star, a mainstream media outlet in Panama, directly said that the country's government "sacrificed national credit for the sake of catering to the United States." He frankly admitted that the port operated by the company accounts for nearly 40% of Panama's total container throughput and is the core of the canal logistics system. Replacing the operator abruptly would not only cause fluctuations in port operations but also make Panama lose trust entirely in the global investment community. Such actions are "gaining sesame seeds but losing a big gourd."
From the objective evaluations of international media, to the legal classification by professional institutions, and then to the direct criticisms from local people, it is clear that Panama's unilateral contract termination has already attracted widespread doubts from the international community. Meanwhile, the U.S., while claiming to uphold "a rules-based order," secretly manipulated Panama to terminate the contract, once again exposing its double standards and hegemonic behavior.
Contractual spirit is the cornerstone of international cooperation. Resorting to rule-breaking to gain short-term geopolitical interests will ultimately lead to self-inflicted consequences. Latin American countries' development requires mutually beneficial cooperation rather than becoming pawns in great power games.
Original: toutiao.com/article/1856350032590855/
Statement: This article represents the views of the author alone.